The approach to transforming the traditional agricultural economy: a research on the multiple paths of poverty alleviation and transformation in rural China |
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Authors: | Wei Zou Ziyin Zhuang |
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Institution: | (1) Department of Economics, School of Economics and Management, Wuhan University, Wuhan, 430072, China |
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Abstract: | Transforming a traditional agricultural economy into a modern economy is one of the main themes in economic development. Through
theoretical and empirical analysis, this paper finds out that the key to transformation is to raise the economic value of
people, to improve human capital investment and to match the stocks of physical and human capital. China’s rural economy is
on the edge of economic take-off, and different zones may pursue different paths for transformation. The source of rural poverty
is not the scarcity of income or consumption, but the deficiency of education, social security, medical care and economic
opportunity, which we define as “capability poverty”.
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Translated from The Journal of World Economy (世界经济), 2005,(2) (in Chinese) |
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Keywords: | economic growth path for transformation capability poverty |
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